Dymon Asia Private Equity has successfully sold Asia Medical Enviro Services (AMES), a biohazardous waste disposal business based in Singapore, to Indonesia-listed coal miner TBS Energi Utama.
The sale was completed on August 29th, 2023, and marks Dymon’s exit from the business. AMES was founded in 2012 and provides medical waste management services to hospitals, clinics, laboratories, and other healthcare facilities across Singapore.
The company has been a part of Dymon’s portfolio since 2018 when the private equity firm acquired a majority stake in the business. Since then, Dymon has worked closely with AMES to expand its operations and improve its services.
The sale of AMES is part of Dymon’s strategy to exit its portfolio companies and return capital to its investors. Dymon Asia Private Equity closed its third fund at $650m in October 2022, and the firm has been actively seeking exit opportunities for its portfolio companies. The sale of AMES is the latest in a series of successful exits for Dymon, which has a track record of delivering strong returns to its investors.
Dymon’s History
Dymon Asia Private Equity is a Singapore-based investment firm that focuses on providing private equity solutions to businesses in the Asia-Pacific region.
The firm was founded in 2008 by Danny Yong, who is also the Chief Investment Officer of Dymon Asia Capital. Since its inception, Dymon Asia Private Equity has invested in a wide range of businesses across various sectors, including healthcare, education, technology, and financial services. The firm has a strong track record of investing in businesses that have high growth potential and can deliver attractive returns to its investors.
In 2018, Dymon Asia Private Equity acquired Asia Medical Enviro Services (AMES) as a carve-out from Sembcorp. AMES is a Singapore-based biohazardous waste disposal business that provides a range of services, including medical waste collection, treatment, and disposal.
Dymon Asia Private Equity committed SGD 20m (USD 15m) from its second fund, which closed that year on USD 450m. Dymon Asia Private Equity worked closely with the management team at AMES to drive growth and operational improvements.
The firm supported AMES in expanding its service offerings, improving its customer service, and enhancing its operational efficiency. As a result of these efforts, AMES was able to grow its customer base and increase its revenue and profitability. In 2023, Dymon Asia Private Equity sold 100% of its stake in AMES to an undisclosed buyer via a trade sale.
The sale of AMES represents another successful exit for Dymon Asia Private Equity and demonstrates the firm’s ability to identify and invest in high-quality businesses that can deliver attractive returns to its investors.
AMES Overview
Asia Medical Enviro Services (AMES) is a Singapore-based company that provides biohazardous waste disposal services.
The company was acquired by Dymon Asia Private Equity in 2018 as a carve-out from Sembcorp. Dymon Asia Private Equity paid SGD 20 million (USD 15 million) for AMES, committing capital from its second fund, which closed that year at USD 450 million. AMES operates in a highly regulated industry and provides its services to a diverse range of customers, including hospitals, research institutions, and pharmaceutical companies.
The company’s services include the collection, transportation, treatment, and disposal of biohazardous waste, such as contaminated sharps, infectious waste, and hazardous chemicals. AMES has a strong reputation in the industry for providing high-quality services and adhering to strict safety and environmental standards.
The company’s facilities are equipped with state-of-the-art technology, including incinerators, autoclaves, and shredders, to ensure that waste is treated and disposed of safely and efficiently. AMES has a team of experienced professionals who are trained in the handling and disposal of biohazardous waste.
The company’s employees undergo regular training to ensure that they are up-to-date with the latest safety and environmental regulations.
Overall, AMES is a reputable and established player in the biohazardous waste disposal industry in Singapore. Its acquisition by Dymon Asia Private Equity in 2018 was a strategic move that allowed the company to further strengthen its position in the market and expand its services to a wider customer base.
